NextNav Inc. (NASDAQ:NN) to Post Q1 2024 Earnings of ($0.17) Per Share, B. Riley Forecasts

NextNav Inc. (NASDAQ:NN) – Equities research analysts at B. Riley increased their Q1 2024 EPS estimates for shares of NextNav in a research note issued on Wednesday, May 1st. B. Riley analyst M. Crawford now forecasts that the company will post earnings per share of ($0.17) for the quarter, up from their prior forecast of ($0.18). The consensus estimate for NextNav’s current full-year earnings is ($0.58) per share. B. Riley also issued estimates for NextNav’s Q2 2024 earnings at ($0.17) EPS, FY2024 earnings at ($0.71) EPS, FY2025 earnings at ($0.71) EPS and FY2026 earnings at ($0.70) EPS.

NextNav (NASDAQ:NN) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $1.21 million for the quarter, compared to analyst estimates of $1.19 million. NextNav had a negative return on equity of 81.56% and a negative net margin of 1,857.46%.

NextNav Trading Up 0.6 %

Shares of NASDAQ:NN opened at $8.59 on Monday. The company has a 50 day moving average of $6.70 and a 200-day moving average of $5.14. The company has a current ratio of 9.31, a quick ratio of 9.31 and a debt-to-equity ratio of 0.60. The firm has a market cap of $955.12 million, a P/E ratio of -13.02 and a beta of 1.16. NextNav has a twelve month low of $2.01 and a twelve month high of $9.50.

Insider Activity

In other news, General Counsel Robert Lantz sold 8,776 shares of NextNav stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $4.23, for a total value of $37,122.48. Following the transaction, the general counsel now owns 90,433 shares of the company’s stock, valued at approximately $382,531.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Robert Lantz sold 8,776 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $4.23, for a total transaction of $37,122.48. Following the sale, the general counsel now directly owns 90,433 shares of the company’s stock, valued at $382,531.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sammaad Shams sold 13,469 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $4.23, for a total value of $56,973.87. Following the sale, the chief accounting officer now directly owns 74,122 shares of the company’s stock, valued at $313,536.06. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 583,000 shares of company stock worth $2,633,160 and sold 75,000 shares worth $317,250. Insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. acquired a new stake in NextNav during the third quarter worth $156,000. Bank of New York Mellon Corp boosted its stake in NextNav by 8.9% in the third quarter. Bank of New York Mellon Corp now owns 162,405 shares of the company’s stock worth $835,000 after purchasing an additional 13,280 shares in the last quarter. General American Investors Co. Inc. grew its holdings in shares of NextNav by 55.9% during the third quarter. General American Investors Co. Inc. now owns 1,251,361 shares of the company’s stock worth $6,432,000 after purchasing an additional 448,884 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of NextNav in the third quarter valued at $81,000. Finally, Ancora Advisors LLC bought a new position in shares of NextNav in the third quarter valued at about $495,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

About NextNav

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.